ams-OSRAM (AMSSY)
OTHER OTC:AMSSY
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ams-OSRAM
(OTC:AMSSY)
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Rating:48Neutral
Price Target:
$5.00
▼(-3.66% Downside)
Action:ReiteratedDate:02/18/26
The score is held back primarily by weak financial performance: shrinking revenue, ongoing net losses, high leverage, and deteriorating free cash flow despite some operational improvement. Technicals add moderate support with improving short-term momentum but a still-weak longer-term trend. The earnings call adds a modest positive tilt due to strong liquidity, deleveraging actions and executed cost savings, though near-term guidance includes multiple headwinds. Valuation remains constrained by negative earnings and no dividend support.
Positive Factors
Market leadership in packaged LEDs
Being the #1 packaged LED supplier by value strengthens long‑term customer relationships with automotive OEMs and professional lighting customers. That position supports pricing leverage, scale economies in production and sourcing, and increases the stickiness of design‑wins across multi‑year vehicle and lighting platforms.
Negative Factors
Multi‑year revenue contraction
A sustained cumulative revenue decline undermines operating leverage and long‑term earnings power. Shrinking top line limits the company's ability to spread fixed costs, reduces free cash flow generation potential, and complicates funding of R&D and capex needed to sustain semiconductor competitiveness over the next 2–6 months and beyond.
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Positive Factors
Negative Factors
Market leadership in packaged LEDs
Being the #1 packaged LED supplier by value strengthens long‑term customer relationships with automotive OEMs and professional lighting customers. That position supports pricing leverage, scale economies in production and sourcing, and increases the stickiness of design‑wins across multi‑year vehicle and lighting platforms.
Read all positive factors
ams-OSRAM (AMSSY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.24B
Dividend YieldN/A
Average Volume (3M)25.00
Price to Earnings (P/E)―
Beta (1Y)1.80
Revenue Growth-1.75%
EPS Growth79.67%
CountryUS
Employees19,700
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.12
Shares Outstanding199,688,780
10 Day Avg. Volume0
30 Day Avg. Volume25
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.92
Price to Sales (P/S)0.26
P/FCF Ratio22.80
Enterprise Value/Market Cap1.73
Enterprise Value/Revenue0.64
Enterprise Value/Gross Profit2.52
Enterprise Value/Ebitda3.27
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
ams-OSRAM Business Overview & Revenue Model
Company Description
ams-OSRAM AG designs, manufactures, and sells LED and optical sensor solutions in Europe, the Middle East, Africa, the Americas, and the Asia/Pacific. The company operates through Semiconductor and Lamps & Systems segments. The Semiconductor segme...
How the Company Makes Money
ams-OSRAM makes money primarily by selling semiconductor and photonic components and related modules to business customers (typically OEMs and tier suppliers) across end markets such as automotive, industrial/medical, and consumer electronics. Key...
ams-OSRAM Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Neutral
The call presented a mix of strong strategic and operational achievements (market leadership in LEDs, robust design‑win funnel, early delivery of EUR 220m cost savings, improved adjusted EBITDA margin, solid free cash flow and material deleveraging progress) alongside notable near‑term headwinds (IFRS revenue decline driven by FX and divestments, gold and raw material cost pressure, temporary EBITDA hit in 2026 from one‑offs and stranded costs, elevated financing costs until refinancing, and workforce restructuring risks). While the company has clear structural plans and substantial liquidity to execute its transition and long‑term targets, the short‑term outlook is balanced by meaningful risks and expected temporary earnings/headline revenue impacts.Positive Updates
Core Semiconductor Growth (Full Year and Q4)
Full-year core semiconductor portfolio grew ~7% year‑on‑year at constant currencies; Q4 core semiconductor business grew ~8% year‑on‑like‑for‑like basis, in line with the company's semi target operating model.
Negative Updates
IFRS Revenue Decline and FX Impact
IFRS top line declined ~3% year‑on‑year. Currency headwinds (weaker U.S. dollar) reduced revenue by ~EUR 100 million for the year and cost the company ~EUR 55 million of top line versus prior year; management noted USD moves meaningfully affect revenue (≈EUR 20 million per $0.10).
Read all updates
Q4-2025 Updates
Positive
Negative
Core Semiconductor Growth (Full Year and Q4)
Full-year core semiconductor portfolio grew ~7% year‑on‑year at constant currencies; Q4 core semiconductor business grew ~8% year‑on‑like‑for‑like basis, in line with the company's semi target operating model.
Read all positive updates
Company Guidance
The company guided Q1 FY26 revenues of EUR 710–810m with adjusted EBITDA around 15% ±1.5pp, based on a EUR/USD rate of $1.19 (USD 0.1 ≈ EUR 20m revenue/year; the move from $1.13 to $1.19 ≈ a ~EUR 20m headwind). For FY26 management said group revenue could be slightly softer than FY25 because of divestments and a weaker dollar: Specialty Lamps (~EUR 150m revenue / ~EUR 15m EBITDA) is expected to be deconsolidated for one month of Q1, the non‑optical sensor business (~EUR 200m revenue / ~EUR 60m EBITDA) likely mid‑year, and both deals carry roughly EUR 30m of stranded costs to be removed over ~12 months; adjusted EBITDA will also be hit by one‑offs, stranded costs and higher precious‑metal costs (gold added EUR 35m in 2025 and an assumed USD 5,000/oz average could add ~EUR 60m vs. 2025, ~4pp impact on OS and ~2pp on group). Liquidity and deleveraging metrics underpin the outlook: Q4/FY free cash flow was EUR 144m (adjusted for pension financing), cash on hand ~EUR 1.5bn, available liquidity EUR 2.2bn, expected divestment proceeds EUR 670m, pro‑forma leverage falls from 3.3x to 2.5x (excluding OSRAM puts net debt ≈ EUR 850m → ~1.6x), and a EUR 200m convertible buyback was completed. Management reiterated cost targets to support margins—Re‑establish‑the‑Base delivered EUR 220m run‑rate savings a year early and the new Simplify program targets an additional ~EUR 200m annual savings—and flagged 2026 financing costs of ~EUR 250–300m until refinancing (with a target sub‑EUR 150m thereafter) and 2030 over‑cycle targets of semiconductor mid‑ to high‑single‑digit revenue growth from 2027 and >25% adjusted EBITDA, group capex up to 8% of sales, group FCF well above EUR 200m and net debt/EBITDA <2x.ams-OSRAM Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
39
Negative
Cash Flow
36
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.32B | 3.43B | 3.59B | 4.82B | 5.04B |
| Gross Profit | 848.00M | 857.00M | 1.02B | 1.26B | 1.44B |
| EBITDA | 693.00M | 462.00M | 471.00M | 855.00M | 938.00M |
| Net Income | -130.00M | -786.00M | -1.61B | -444.00M | -32.00M |
Balance Sheet | |||||
| Total Assets | 6.81B | 6.90B | 7.40B | 8.83B | 9.64B |
| Cash, Cash Equivalents and Short-Term Investments | 1.56B | 1.12B | 1.18B | 1.11B | 1.34B |
| Total Debt | 2.69B | 2.69B | 2.67B | 3.02B | 3.40B |
| Total Liabilities | 5.86B | 5.67B | 5.50B | 6.00B | 6.49B |
| Stockholders Equity | 942.00M | 1.23B | 1.90B | 2.83B | 3.14B |
Cash Flow | |||||
| Free Cash Flow | 38.00M | -67.00M | -375.00M | 62.00M | 482.00M |
| Operating Cash Flow | 237.00M | 435.00M | 674.00M | 599.00M | 792.00M |
| Investing Cash Flow | 299.00M | -424.00M | -826.00M | -183.00M | -560.00M |
| Financing Cash Flow | -97.00M | -98.00M | 245.00M | -726.00M | -534.00M |
ams-OSRAM Technical Analysis
Positive
5.19
Price Trends
5.35
Positive
5.18
Positive
5.99
Positive
Market Momentum
0.11
Negative
65.28
Neutral
68.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMSSY, the sentiment is Positive. The current price of 5.19 is below the 20-day moving average (MA) of 5.35, below the 50-day MA of 5.35, and below the 200-day MA of 5.99, indicating a bullish trend. The MACD of 0.11 indicates Negative momentum. The RSI at 65.28 is Neutral, neither overbought nor oversold. The STOCH value of 68.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMSSY.
ams-OSRAM Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.62B | 12.15 | 11.84% | ― | -2.04% | 8.84% | |
66 Neutral | $3.50B | -81.41 | -10.74% | ― | 12.05% | 14.24% | |
62 Neutral | $2.35B | 47.89 | 4.13% | ― | -3.90% | -41.66% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $1.55B | 32.53 | 4.96% | 4.48% | -3.62% | -20.33% | |
58 Neutral | $2.17B | -12.55 | -30.27% | ― | -38.06% | -50.14% | |
48 Neutral | $1.24B | -6.67 | -12.96% | ― | -1.75% | 79.67% |
* Technology Sector Average
AMSSY
ams-OSRAM
6.25
2.95
89.54%
HIMX
Himax Technologies
9.07
3.16
53.34%
PLAB
Photronics
44.48
26.74
150.73%
VECO
Veeco
38.96
20.55
111.62%
LASR
nLIGHT
62.72
55.70
793.45%
NVTS
Navitas Semiconductor
9.42
7.66
435.23%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.